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    • Headlines

      Lawmakers Jockey Over Budget Surpluses

      Stateline | by Elaine S. Povich | April 22, 2014

      According to NASBO, Kentucky and many other states have put the emphasis on restoring funding to education this year. A still incomplete survey of states showed that the vast majority are increasing elementary and secondary education funding, along with transportation and infrastructure.

    • Headlines

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Headlines

      State government dependence on federal funding growing at alarming rate

      The Washington Examiner | by David Freddoso | April 15, 2014

      Only 11 states depended on the federal government for more than one-third of their total revenues in 2001. By 2012, 24 states found themselves in this situation. SBS partnered with the Washington Examiner partnered to expose this trend of increased state dependency.

    • Headlines

      Rich States, Poor States

      ALEC | by Arthur B. Laffer, Stephen Moore and Jonathan Williams | April 15, 2014

      Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. Rich States, Poor States not only identifies these policies but also makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster economy.

    • Headlines

      Rebounding economy fills state coffers with record tax revenues

      Washington Post - GovBeat | by Reid Wilson | April 10, 2014

      State governments collected more than $846 billion in tax revenue in the last fiscal year, the highest amount ever reported, as a rebounding economy boosted coffers hit hard by the recession.

    • Headlines

      Pew's latest pension report understates unfunded liabilities, but still shows growing pension problem

      by Cory Eucalitto | April 4, 2014

      While Pew's report relies directly on state-reported numbers that understate the size of unfunded liabilities, it nonetheless shows tremendous growth in unfunded liabilities since 2008.

    • Headlines

      U.S. public pension gap widened to nearly $1 trillion in fiscal year 2012

      Reuters | by Robin Respaut | April 2, 2014

      The unfunded liabilities of public-employee pension plans rose by 10 percent in fiscal 2012 to a record $914 billion, hit by low investment returns, missed contributions and unfunded benefits, underscoring the pension funding crisis in U.S. states and cities, a report by the Pew Charitable Trusts said.

    • Headlines

      Increased federal aid to states is a long term trend

      State Budget Solutions | by Bob Williams, Joe Luppino-Esposito | March 26, 2014

      State Budget Solutions’ analysis of the latest data shows that, between 2001 and 2012, the percentage of general revenue dollars coming from the federal government increased in 41 states. Click here to see how much your state gets from the feds.

    • Headlines

      Some state pensions in dire straits

      USA Today | by Dustin Racioppi | March 21, 2014

      Not making payments to the pension funds, or only paying a portion of what an actuary has recommended, is largely what got these debt-burdened states to where they are today, experts say.

    • Headlines

      Great Expectations: States still use unrealistic pension assumptions

      Watchdog.org | by Eric Boehm | March 19, 2014

      A recent study by the Society of Actuaries, a national industry group, concluded that states and municipalities shouldn’t use discount rates that are unlikely to be achieved.


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    • Budget timeline: Annual  

      Fiscal Year starts: July 1

      The current state budget can be found here.

      Find the legislative session calendar here.

      Find the current legislative leaders here.

       

      UT Gov. Herbert

      Gov. Gary Herbert
      Office of Governor Gary R. Herbert
      State Capitol
      Suite 200
      Salt Lake City, UT 84114
      Phone: (801) 538-1000
      Fax: (801) 538-1557
      http://www.utah.gov/governor/

       

       

      Ron Bigelow, Executive Director
      Governor's Office of Planning & Budget
      State Capitol, Room 116
      Salt Lake City, UT 84114
      Phone (801) 538-1027
      Fax (801) 538-1547
      http://www.governor.utah.gov/gopb/ 
      ronbigelow@utah.gov 

       

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2012 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities

       

      Utah is required to pass a "balanced budget." Article 13, Section 9 of the 1895 Constitution states that expenditures shall not exceed total revenues. Section 63-38-10(3) requires the governor to reduce the budgetary allotments and transfer of funds by the amount of the revenue deficiency. These provisions did not prevent the State from reporting budget deficits (negative net transactions) on the last three years' Budgetary Comparison Schedules. Utah law also forbids the carrying over of a deficit from one year to the next.

       

      For FY2007, the State maintains the following funds: the General Fund, the Education Fund, the Uniform School Fund, the Transportation Fund, the Transportation Investment Fund, and the Trust Lands Fund. The State also maintains a number of non-major governmental funds, but the exact amount is unclear. For FY2006, the state maintains all of the previously named governmental funds except for the Education Fund. For FY2005, the State maintains the following funds: the General Fund, the Uniform School Fund, Transportation Fund, the Centennial Highway Fund, and the Trust Lands Fund.

       

      Each year, Utah budgets all of its major governmental funds, except for the Trust Lands Fund. Utah's CAFR also contains detail schedule of expenditures for all of its budgetary funds. In other states this has lead to confusion and the double counting of information. However, Utah's detail schedules are labeled clearly.  [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

       

      Sutherland Institute Logo

    • Budget Processes and Systems :

    • HEADLINES: Utah

      Herbert calls special session to OK more liquor licenses, fix ed funding

      The Salt Lake Tribune | by Robert Gerhrke | June 20, 2012

      Utah Gov. Gary Herbert has called the Legislature into a special session Wednesday to approve the issuance of 90 new liquor licenses for restaurants, hoping to alleviate a scarcity that developers have said is hindering expansion.

    • HEADLINES

      Lost in Recession, Toll on Underemployed and Underpaid

      New York Times | by Michael Cooper | June 19, 2012

      These are anxious days for American workers. Many are underemployed. Others find pay that is simply not keeping up with their expenses.

    • HEADLINES

      Healthcare Case Refresher: Catch Up Before the Supreme Hands Down

      by Kristen De Pena | June 15, 2012

      As the Supreme Court analyzes the issues, the nation anxiously awaits their final decision on the healthcare law. To prepare for the final decision expected by the end of the month, it's helpful to review the arguments and refresh our healthcare law memories.

    • HEADLINES: Maryland, Tennessee, Utah, Virginia

      State of the States Following Super Committee Failure

      by Kristen De Pena | November 23, 2011

      Formed to revive the budget-cut stalemate that Congress could not overcome as a whole, the Super Committee is proving that partisanship rules, no matter the size. With the committee's failure nearly behind us, the states are looking toward the future of their budgets in the wake of automatic cuts and tightened purse strings.

    • HEADLINES: Utah

      State budget done, cuts not as deep as once expected

      The Daily Herald | by Billy Hesterman | March 11, 2011

      For the third year in a row, Utah lawmakers faced lower-than-needed revenue and a growing education system when working out the state's annual budget.

    • HEADLINES: Utah

      Governor Herbert says lawmakers went too far with budget cuts

      The Deseret News | by Lisa Riley Roche | February 26, 2011

      But the biggest difference between the governor and the GOP majority in the Legislature is whether to make up for all of the $313 million so-called structural imbalance this session.


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    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.

    • Solutions

      The Case for Reform: Adult Probation

      Right on Crime | August 1, 2012
    • Solutions

      Solutions to the public pension crisis

      State Budget Solutions | by Bob Williams | August 1, 2012

      Public pensions at the state and municipal levels are unsustainable in their current form.  State Budget Solutions' recent study by Andrew Biggs found that public pensions are underfunded by $4.6 trilion. Here we offer solutions to the pension crisis

    • Solutions: Utah

      File Subsidies: If you don't build it, they'll still come

      The Sutherland Institute | November 3, 2011

      The state should stop offering targeted tax subisidies to favored film companies and in stead reduce taxes for all businesses to help level the playing field and promote economic growth.

    • Solutions: Utah

      Utah: A Case Study for Pension Reform

      Defined contributions are a potential solution to states' unsustainable pension liabilities.

    • Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Pew's latest pension report understates unfunded liabilities, but still shows growing pension problem

      by Cory Eucalitto | April 4, 2014

      While Pew's report relies directly on state-reported numbers that understate the size of unfunded liabilities, it nonetheless shows tremendous growth in unfunded liabilities since 2008.

    • U.S. public pension gap widened to nearly $1 trillion in fiscal year 2012

      Reuters | by Robin Respaut | April 2, 2014

      The unfunded liabilities of public-employee pension plans rose by 10 percent in fiscal 2012 to a record $914 billion, hit by low investment returns, missed contributions and unfunded benefits, underscoring the pension funding crisis in U.S. states and cities, a report by the Pew Charitable Trusts said.

    • Some state pensions in dire straits

      USA Today | by Dustin Racioppi | March 21, 2014

      Not making payments to the pension funds, or only paying a portion of what an actuary has recommended, is largely what got these debt-burdened states to where they are today, experts say.

    • Great Expectations: States still use unrealistic pension assumptions

      Watchdog.org | by Eric Boehm | March 19, 2014

      A recent study by the Society of Actuaries, a national industry group, concluded that states and municipalities shouldn’t use discount rates that are unlikely to be achieved.

    • How to Become a (Public Pension) Millionaire

      The Wall Street Journal | by Andrew Biggs | March 17, 2014

      In five states, an average full-career retiree receives a retirement income higher than his final salary.

    • US public pensions need more than investment windfall

      CNBC.com | March 10, 2014

      The higher-than-expected returns since 2012 are welcome, but experts say they don't make up for a legacy of insufficient funding, a problem that afflicts many states that allow elected officials to control the process.

    • Buffett Says Pension Tapeworm Means Decade of Bad News

      Bloomberg News | by Noah Buhayar and Zachary Tracer | March 3, 2014

      "Local and state financial problems are accelerating, in large part because public entities promised pensions they couldn't afford," Buffett said. "Unfortunately, pension mathematics today remain a mystery to most Americans."

    • Study rates public pension overhauls in other states

      Sacramento Bee - State Worker | by Jon Ortiz | February 27, 2014

      Public pension-change efforts in states that have rolled back benefits share some common characteristics, according to a paper issued today by the influential Brookings Institution in Washington, D.C.

    • Public Pension Tabs Multiply as States Defer Costs and Hard Choices

      The New York Times | by Rick Lyman and Mary Williams Walsh | February 25, 2014

      More than 40 states have taken steps in recent years to rein in mounting public employee pension costs that threaten to strangle government services. But none have come close to closing their pension gaps quickly enough to keep pace with a rapidly aging - and retiring - public work force.


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